Fondazione Fiera Milano approves the 2024-2026 3-year plan

Thanks to an investment of 228 million euros, the Industrial Plan for the next three years will allow Fondazione to reaffirm its central role in the development of strategic sectors for Milan and the rest of the country. In the foreground are investments in the new real estate development that will also house the RAI production centre and the 2026 Winter Olympics.

For the period 2024 - 2026 an estimated EBITDA of 111.4 million and a net profit of 21.7 million are expected. For 2026, a net worth of 769.2 million is expected.

Milan, 27 November 2023 - The General Council of Fondazione Fiera Milano, which met today under the leadership of President Enrico Pazzali, unanimously approved the new 2024-2026 3-year plan.

"We want to strengthen the recovery period with a vision that looks to the future with confidence. A future of great opportunities and challenges that we will face with the Plan launched today, which sees us at the forefront in undertaking projects and planning investments to enhance the value of people, develop the territory, and strengthen our assets and our brand," commented Enrico Pazzali, President of Fondazione Fiera Milano. "I would like to underline, for example, the great work that will make it possible to enhance the value of our real estate assets also through the leasing of the new RAI production centre in the Fiera spaces. This is an extraordinary goal, achieved in synergy between various players and also made possible by Fondazione's contribution. There is more because we are also proud," Pazzali concludes, "to be able to contribute to the making of an extraordinary world event such as the 2026 Milan-Cortina Winter Olympics and to be able to take full advantage of the opportunities offered by the revolution of innovation and sustainability. We will reaffirm, thanks to projects and initiatives that aim to have a positive impact on the territory, the central role of Fondazione Fiera Milano in the strategic landscape of Milan, Lombardy and the rest of the country.

The 2024-2026 3-year plan, drafted in accordance with the statutory principles that inspire the Foundation's work, identifies four lines of development and outlines the objectives to be achieved over the next three years:

•    A proactive shareholder, fostering the competitiveness of trade fair and congress venues with investments in digital transformation and sustainability of facilities, and supporting the organisation of the Milan-Cortina Winter Olympics with interventions on trade fair facilities and the acquisition of important marketing and partnership rights for the event.
•    Development of the territory, enhancing the urban context and its real estate assets through the creation of a communication hub (which will also house the new RAI production centre on a lease basis), training and knowledge (new campus) and hospitality.
•    Enhancing the cultural heritage, knowledge and skills, increasing the heritage with new acquisitions, producing scientific and strategic analyses,  
training the talents of the Fiera Group and the industry in general, with the aim of becoming a cultural reference point for the sector.

•    Promotion of actions and projects for social inclusion and reduction of inequalities, developing models of active collaboration with representatives of the territory, both public and private, with a view to contributing to the wellbeing of the community and offering tools to build a more socially sustainable future.

The document formalises strategic investments for the Foundation, which will reaffirm its central role in the institutional, economic and social scene both in Milan and nationally: first and foremost, the overall redevelopment of its real estate assets, which will include not only the transformation of some pavilions into conference spaces, the construction of reception areas and the campus, but also the construction of a white box in which Rai will set up its new multimedia production centre, with 8 recording studios on 63,000 square metres in the area currently occupied by MiCo Nord. An investment strongly desired by the Foundation to confirm a perspective of historical, professional and also cultural continuity in the spaces of the Fiera, which will thus host one of the country's major cultural hubs.

A special attention should also be paid to the investments that the Foundation will make in view of the 2026 Olympic and Paralympic Winter Games: the plan sets out both the 15 million euros for the construction of the speed skating rink and the women's hockey pitch, whose Olympic competitions will be hosted in the Fiera's pavilions, and the 15 million euros, also for the three-year period (2024-2026), with which Fondazione Fiera will support the Fondazione Milano Cortina in the organisation of the Games through the acquisition of important marketing and partnership rights for the event.

In order to achieve its objectives, Fondazione Fiera Milano plans to invest a total of € 228 million over the three years, of which the largest part, € 177.5 million, is dedicated to regeneration projects in the urban area, such as the new RAI headquarters, the campus, the Scarampo hotel and the relocation of MiCo Nord. The remainder will be used for digital and green interventions, for the extraordinary maintenance of the exhibition centre, which includes the adaptation of the pavilions for the 2026 Olympics, and for the actions that Fondazione Fiera will undertake in the social, cultural and training spheres.

For the three-year period 2024 - 2026, Fondazione Fiera Milano estimates over 111 mln EBITDA and 21.7 mln net profit, while the balance sheet forecasts a net worth of 769 mln by the end of 2026, up from the current level. The overall growth of the same net worth, starting in 2019, will clearly exceed the 100 million mark in 2026.

The investment plan for the next three-year period will be very important and ambitious, and consolidates the change of pace already initiated in the period 2022-2024: the total value of the Plan for the years 2023-2028 amounts to EUR 359.8 million.